Market salary for a few in a public sector bank could be a chimera

The possibility is that high calibre chief risk officers in the PSBs already earn Rs 1 crore to Rs 2 crore, whereas even SBI chairman could be earning less than Rs 30 lakh

The government’s decision to hire a chief risk officer (CRO) for public sector banks (PSBs), from the private sector for a market-linked salary, won’t be an easy task to pull off when the managing director (MD) of the bank earns a pittance compared with his private sector counterpart.

The possibility is that high calibre chief risk officers in the private sector banks already earn Rs 1 crore to Rs 2 crore, whereas even State Bank of India (SBI) chairman could be earning less than Rs 30 lakh, but there are some other perks for PSB chiefs, such as sprawling accommodation in